Tax returns are something that practically all Americans hate, myself included. It doesn't matter if we actually get a refund or not. Unless you're single with one source of income, most tax returns are far from simple. Complicated would be a huge understatement, even with the assistance of software packages designed specifically to make it easier.

I realize the end of the year is two months away. The end of the year is the wrong time to prepare, even though the return isn't required at the IRS until April 16th (or whatever day they might change it to). I have to figure out how my earnings from Google AdSense, sponsored posts, and other advertising services are going to affect me. They haven't deducted anything from my earnings and it's going to have an impact. I may end up owing money.

I obtained the information from my wife's latest pay stub so I could estimate how much she would earn and how much would be deducted through the end of the year. She's living in Avondale, Arizona while I'm resting on my laurels here in the Philippines. It's a long story, but she should be back here in January. I don't make enough with my pension and family situation to pay taxes on it, even with more than $4,000 in additional income. Unfortunately, her pay is going to make it several thousand dollars higher than that.

If you're dealing with extra income and you don't think you'll have enough taxes deducted for the year, don't wait until the last minute to figure it out. Three and a half months, between January 1st and the middle of April, should be enough time to make enough new extra income to cover any additional taxes that may need to be paid for the previous year.

(Update: I've done the estimates. It looks like I'll receive a refund of more than $1,000 from federal while owing just under $150 for state. My son's tuition for his second year of college qualifies for the "Hope" credit and that makes the difference. If not for the education credit, the federal refund would be less than $20.)